Slides
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RIA RIACHUELO 2Q26 RESULTS
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IMPORTANT CINZA BG VERDE BG This presentation contains forward - looking statements regarding the business outlook, estimates of operating and financial results, as well as growth prospects of Riachuelo. These are merely projections and, as such, are based solely on the expectations of Riachuelo's management regarding the future of the business and its continued access to capital to finance the Company's business plan These forward - looking statements depend substantially on changes in market conditions, government regulations, competitive pressures, the performance of the sector and the Brazilian economy, among other factors, in addition to the risks described in the disclosure documents filed by Riachuelo and are, therefore, subject to change without prior notice VERDE RIACHUELO DUNA
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01 OPENING REMARKS
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Significant progress in our transformation journey CINZA BG VERDE BG VERDE RIACHUELO DUNA May/23 Creation of Fashion, Marketing and E - commerce boards Aug/23 Establishment of Transformation Office Acceleration of Guararapes industrial plant occupancy Sep/23 Oct/23 Significant reduction in inventories and cash generation of R$1.0 billion in the year Dec/23 Creation of Supply Chain board Sep/24 Midway resumed portfolio growth delivering results twice as high YoY Dec/24 Significant reduction in leverage Dez/24 André Farber takes over as CEO Definition of strategic priorities Jun/25 Launch of “Nossos Fios” strengthening our culture, anchored in our essence Sep/25 Relaunch of Pool brand Investments in strategic sub - brands Nov/25 Optimization of debt profile Issue of GUAR17 at DI + 0.95% p.a. Rebranding Inauguration of pop - up store with new store concept Dec/25 Sale of Midway Mall for R$1.6 billion Dec/25 RIAA3 New Ticker B3 Feb/26 First Riachuelo store renovated with new customer experience model Apr/26 Jun/26 Evolution in Fashion structure , with the creation of the Men’s Fashion Executive Board Store expansion pipeline includes 14 new stores and 7 renovation projects Aug/26
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17.0% Retail EBITDA Margin Record in the last 11 years R$342 MM Retail EBITDA, record for a 2Q +14.7% vs. 2Q25 +7.2% vs. 2Q25 marking another quarter of growth R$119 MM Financial Services EBITDA +1.9 p.p. vs. 2Q25 Highest 2Q margin in Company history 59.2% Apparel gross margin R$461 MM Consolidated EBITDA +12.7% vs. 2Q25 17.1% Consolidated EBITDA Mg., +1.4 p.p. vs. 2Q25 Highlights Note: Consolidated 2Q25 data excludes Midway Mall numbers R$168 MM Net Income +36.2% vs. 2Q25 Record for a 2Q Another quarter of consistent results +7.8% Apparel SSS 12 consecutive quarters of growth
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Fashion strategy focused on product and experience drives 12 consecutive quarters of growth Apparel SSS CINZA BG VERDE BG VERDE RIACHUELO DUNA 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 13.2% 5.3% 10.5% 8.3% 10.1% 14.6% 12.8% 15.8% 7.3% 7.2% 10.1% 7.8%
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Apparel Gross Margin YoY Growth Record level for the period , with 11 consecutive quarters of expansion Apparel Gross Margin CINZA BG VERDE BG VERDE RIACHUELO DUNA 4Q23 51.5% 1Q24 55.4% 2Q24 54.8% 3Q24 54.9% 4Q24 53.7% 1Q25 57.3% 2Q25 57.3% 3Q25 57.8% 54.5% 54.9% 1Q26 59.2% 2Q26 + 1.3 p.p . + 1.9 p.p . + 1.9 p.p . + 4.0 p.p . + 0.4 p.p . + 2.1 p.p . + 1.9 p.p . + 2.5 p.p . + 2.9 p.p . + 1.2 p.p . + 1.9 p.p . 4Q25
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SALES PRODUCTIVITY ROIC EXPERIENCE 01 FOOTPRINT 02 FASHION EFFICIENCY 03 FINANCIAL SERVICES FULL POTENTIAL 04 CAPITAL STRUCTURE 05 Cycle of growth and return Strategic Pillars
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9 CINZA BG VERDE BG VERDE RIACHUELO DUNA Translating Our Ambition Consistent growth of Apparel SSS Revenue growth driven by store openings and modernization of the store base Continued expansion of Apparel gross margin Net income growth outpacing EBITDA growth Continuous increase in return on capital Midway as an important driver of growth
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Evolution of the in - store experience CINZA BG VERDE BG VERDE RIACHUELO DUNA Recap collabs e Dultras - pais
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CINZA BGVERDE BG VERDE RIACHUELO DUNA RETAIL PERFORMANCE 02
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Sustained expansion driven by disciplined execution of strategic levers Evolution of Apparel Gross Margin +1.9 p.p. CINZA BG VERDE BG VERDE RIACHUELO DUNA 2Q25 0.5 p.p. Product Mix 0.9 p.p. Internal Captures 0.4 p.p. Business Intelligence 2Q26 57.3% 59.2 % • Focus on Fashion • Increase in winter prdocuts sales • Pricing strategy • Markdown management • Production efficiencies • Optimizaton of operational model
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CINZA BG VERDE BG VERDE RIACHUELO DUNA 12.5% 195 2Q23 14.4% 248 2Q24 15.2% 298 2Q25 17.0% 342 2Q26 +1.8 p.p. Retail EBITDA Record EBITDA margin for a second quarter in the last 11 years (R$ Million) +14.7%
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03 CINZA BG VERDE BG VERDE RIACHUELO DUNA FINANCIAL SERVICES
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Credit Portfolio Portfolio growth supported by diligent credit management CINZA BG VERDE BG VERDE RIACHUELO DUNA 4.9 0.8 11.4% 2Q25 5.0 0.8 10.8% 3Q25 5.3 0.8 10.4% 4Q25 5.1 0.9 11.0% 1Q26 5.1 1.1 11.0% 2Q26 5.6 5.7 6.2 6.0 6.2 Cards Loans % Net Revenue over Portfolio (up to 360 days) Note: Total Credit Portfolio in R$ million – up to 360 days
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Cards Loans CINZA BG VERDE BG VERDE RIACHUELO DUNA Over 90 days (portfolio of up to 360 days) 15 to 90 days (portfolio of up to 360 days) Delinquency Rates Controlled levels maintained across short - and long - term buckets 6.6% 4Q22 16.9% 7.8% 1Q23 17.9% 7.3% 2Q23 18.7% 6.6% 3Q23 18.4% 5.9% 4Q23 18.4% 7.0% 1Q24 17.3% 5.4% 2Q24 15.6% 6.3% 3Q24 13.6% 5.6% 4Q24 14.1% 7.6% 1Q25 14.6% 6.9% 2Q25 14.9% 6.4% 15.6% 14.5% 6.0% 4Q25 15.1% 3Q25 1Q26 15.4% 6.5% 2Q26 7.1% 11.8% 4Q22 32.5% 11.1% 1Q23 31.8% 10.5% 2Q23 30.4% 10.0% 3Q23 28.9% 10.7% 4Q23 27.9% 10.9% 1Q24 27.1% 8.7% 2Q24 22.0% 9.6% 3Q24 21.6% 10.3% 4Q24 20.9% 12.1% 1Q25 23.7% 11.1% 2Q25 25.1% 8.9% 29.0% 24.0% 9.0% 4Q25 21.6% 3Q25 1Q26 18.9% 8.9% 2Q26 9.8%
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CINZA BG VERDE BG VERDE RIACHUELO DUNA Cards Personal Loans 8.0% jan/23 7.3% 7.7% mar/23 5.2% 8.1% jun/23 5.2% 8.4% sep/23 5.4% 7.3% dec/23 7.0% mar/24 5.0% 6.5% jun/24 5.0% 6.2% sep/24 4.8% 7.4% dec/24 5.5% 8.0% mar/25 4.3% 6.5% jun/25 4.0% 5.7% 6.6% 4.1% 6.2% dec/25 4.1% sep/25 mar/26 3.5% 6.2% jun/26 7,2% 6,9% FPD – Cards and Personal Loans New vintages continue to show healthy performance
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04 CONSOLIDATED PERFORMANCE
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Highest Consolidated EBITDA margin in the last 12 years Record Consolidated EBITDA for a 2Q (R$ Million) CINZA BG VERDE BG VERDE RIACHUELO DUNA 14.7% 248 89 2Q24 15.7% 298 111 2Q25 17.1% 342 119 2Q26 337 409 461 2Q23 10.2% 216 21 195 +1.4 p.p. Consolidated EBITDA Margin Retail Financial Services +14.7% +7.2% +12.7%
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Record and Consistent Net Income FCO: +R$98 MM CINZA BG VERDE BG VERDE RIACHUELO DUNA (R$ Million) (29) 2Q23 39 2Q24 123 2Q25 168 2Q26 +36.2% (158) 2Q23 27 2Q24 332 2Q25 528 2Q26 +58.9% Record LTM Net Income for a 2Q Path of profitable value creation (R$ Million)
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Investment pipeline supported by consistent operating cash flow generation Free Cash Flow FCO: +R$ 135 m illion CINZA BG VERDE BG VERDE RIACHUELO DUNA 461 EBITDA ( 228 ) Accounts Receivable, Inventories and Suppliers ( 20 ) Other Working Capital Accounts ( 78 ) IR/CS and Other ( 266 ) Investments (132) Free Cash Flow (R$ Million)
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Solid financial position and healthy debt level Financial Leverage * Net Debt and Leverage on a comparable basis (excluding the sale of Midway Mall and JCP (R$ Million) CINZA BG VERDE BG VERDE RIACHUELO DUNA Net Debt/EBITDA Net Debt/EBITDA pre - IFRS 16 Net Debt 0.5 0.7 Jun/25 0.3 0.4 Dec/25* 0.4 * 0.6 * 353 747 * Mar/26 * 0.5 * 0.7 * 353 943 * Jun/26* 775 560 1,100 1,296 Impact of JCP early payment
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ri@riachuelo.com.br | riachuelo.com.br/ir